Future Planning

Amazon CEO of Worldwide Consumer Business Resigns After 23 Years: ‘It’s Time for Me to Build Again.’

Dave Clark, who has been with the ecommerce giant since 1999, announced he will resign from the company and move on to new beginnings.
BY Entrepreneur TIMEJune 4, 2022 PRINT
400x30 Entrepreneur logo
By 

After 23 years with Amazon, Dave Clark, who most recently served as CEO of its worldwide consumer business and as a top lieutenant to CEO Andy Jassy, announced he’ll be leaving the company effective July 1. Clark’s position made him one of the highest-ranking executives at Amazon, and the company had yet to name a replacement when news of his departure broke.

In a post announcing the news, Jassy stated: “we still have more work in front of us to get to where we ultimately want to be in our consumer business. To that end, we’re trying to be thoughtful in our plans for Dave’s succession and any changes we make. I expect to be ready with an update for you over the next few weeks.”

Who Is Amazon CEO Dave Clark?

Clark began his career at Amazon in 1999 straight out of grad school and a mere five years after the company was founded. He started in the operations department, where he quickly earned recognition for his work and moved up the ranks. His sharp eye and attention for identifying weaknesses in systems earned him the nickname among colleagues as “The Sniper,” as reported by Bloomberg.

During his 23-year stint with the company, Clark held a variety of executive positions, including SVP of worldwide operations, VP of worldwide operations, VP of global customer fulfillment, and VP of North America operations—with his role as CEO of worldwide consumer business being relatively new. Clark stepped into the position in early 2021 following the previous CEO’s retirement.

Epoch Times Photo
The Amazon logo on the frontage of an Amazon’s center in Bretigny-sur-Orge, France on Dec. 14, 2021. (Thomas Samson/AFP via Getty Images)

Why Is Dave Clark Resigning?

In an announcement shared to Twitter, Clark stated: “I’ve had an incredible time at Amazon but it’s time for me to build again. It’s what drives me. To all I’ve had the honor of working with: thank you for making it so much fun to come to work every day for 23 years to invent cool, amazing things for customers”—with attached screenshots of the resignation memo sent to his team. In the memo, Clark reiterates his gratitude for being such a big part of the Amazon journey but says he believes he’s ready to move on to something new. “For some time, I have discussed my intent to transition out of Amazon with my family and others close to me, but I wanted to ensure the teams were set up for success. I feel confident that time is now.”

What Is Dave Clark’s Net Worth?

As of May 2022, Clark has an estimated net worth of $26 million, including 5,000 shares of Amazon stock worth more than $12 million based on today’s price. During his time with Amazon, he was among the highest paid executives, making $56 million in 2021 alone.

The Epoch Times Copyright © 2022 The views and opinions expressed are only those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.

Entrepreneur
Empowering People in the Business of Changing the World | Entrepreneur® is dedicated to fueling the world’s visionary leaders compelled to make a difference through their innovative ideas, businesses, and points of view.
You May Also Like